Wedoany.com Report-Feb 8, China exported 235.93 GW of PV modules in 2024, up 13% from 207.99 GW in 2023, according to customs data from PV InfoLink.
Global module shipments increased 13% year on year, surpassing demand expectations, with the exception of Europe, where shipments fell 7%. Other regions saw strong growth. The Middle East increased 99%, Africa jumped 43%, the Asia-Pacific region rose 26%, and the Americas also advanced 10%.
Europe imported 94.4 GW of modules in 2024, down from 101.48 GW in 2023. Excluding the Netherlands, Europe’s largest shipping hub, Spain ranked second for Chinese module imports, with 10.57 GW, down 10% year-on-year from 11.75 GW in 2023, while the Netherlands led with a 40% share.
Asia-Pacific imported 68.11 GW of modules in total, up 26% from 53.93 GW in 2023. Pakistan led the region, bringing in 16.91 GW, up 127% from 7.47 GW, accounting for 25% of the region’s imports. India followed closely behind with 16.73 GW, also accounting for nearly 25%.
Cumulative shipments to the Americas reached 33.28 GW, a 10% year-on-year increase. Brazil led the region with 22.5 GW, up 9% from 20.61 GW, accounting for 68% of total imports, followed by Chile with 2.48 GW, or 7%.
Middle East shipments totaled 28.79 GW, up 99% from 14.46 GW in 2023. Saudi Arabia accounted for the largest share with 16.55 GW, up 115% from 7.71 GW, representing 58% of the region's imports, followed by the UAE at 16%, with 4.51 GW.
Africa imported 11.36 GW in 2024, up 43% from 7.94 GW. South Africa led with 3.81 GW, down 7% from 4.11 GW, accounting for 34% of the region’s imports, followed by Morocco with 1.13 GW, or 10%.
In 2025, key factors to watch include Europe’s economic weakness, India’s push for domestic production, and Brazil’s tariff adjustments. Emerging markets in the Middle East, Southeast Asia, and Eastern Europe may continue to grow, with global demand expected to rise by 4% to 9%.
